Edelweiss Life Insurance Annuity Plan

What is an Edelweiss Life Insurance Annuity Plan?

An Edelweiss Life Insurance Annuity Plan is a retirement-focused financial product that converts a lump-sum investment (or accumulated corpus) into a guaranteed stream of regular income. It offers flexible premium terms, deferment periods, and payout frequencies, monthly, quarterly, half-yearly, or yearly, with the “Return of Purchase Price on Death“ feature.

Investors can choose to:

• Make a one-time lump-sum payment for immediate annuity income, or
• Opt for a deferred annuity, where income begins after an accumulation period.

Depending on the plan type, Edelweiss Life offers flexible payout frequencies, customised income start dates, and options such as return of purchase price on death.

Types of Edelweiss Life Insurance Annuity Plans

Edelweiss Life Insurance offers a range of annuity plans designed to ensure lifelong income through various options tailored to individual and joint life needs. Below is a concise overview of all types of annuities currently available through Edelweiss Life Insurance:

• Edelweiss Life Insurance Active Pension Plus Advantage: A non-linked, non-participating individual general annuity plan offering immediate and deferred options. It allows flexible annuity choices for single or joint life and multiple payout modes to suit diverse retirement goals.
• Edelweiss Tokio Life Saral Pension: A standard individual immediate annuity plan that provides lifelong guaranteed income in exchange for a single premium. It is available for individuals aged 40 to 80 years, with a minimum monthly annuity of ₹1,000.
• Edelweiss Tokio Life Immediate Annuity Plan: A non-linked, non-participating immediate annuity plan designed to start income payments immediately after purchase. It is available for individuals aged 18 to 85 years, or from 0 years if the annuity is purchased using proceeds from Edelweiss Life pension policies, and ensures a steady income without delay.
• Edelweiss Life Insurance Forever Pension: A one-time investment pension plan, non-linked, non-participating annuity plan that offers guaranteed lifetime income. It comes with immediate and deferred options, single and joint life coverage, and a minimum purchase price of ₹2 lakh.
• Edelweiss Life Active Pension Plus: A deferred annuity plan that provides lifelong guaranteed income with single or joint life options. It allows premium payments over 5 to 10 years and deferment periods up to 30 years, starting from age 35, with a minimum monthly annuity of ₹1,000.

Edelweiss Life Insurance Active Pension Plus Advantage

Edelweiss Life Active Pension Plus Advantage is an individual, non-linked, non-participating, savings-based general annuity plan that offers guaranteed lifelong income with both immediate and deferred annuity options. It provides flexibility for retirement income planning and allows 100% of the purchase price to be returned to the nominee upon death. The plan offers premium-payment and deferment-period choices between 5 and 30 years and ensures a minimum annuity instalment of ₹1,000 per month for the monthly payout mode.

Key Features of Edelweiss Life Insurance Active Pension Plus Advantage

Sample Illustration of Edelweiss Life Insurance Active Pension Plus Advantage (Monthly Payout)

For a male annuitant aged 55 years with an annualised premium (or purchase price) of ₹5,00,000, assuming annual payment under the plan:

Note: The annuity amounts shown are indicative and may vary depending on the annuitant’s age, gender, purchase price, deferment period, and annuity option, as per prevailing Edelweiss Life Insurance rates and IRDAI (Insurance Products) Regulations 2024.

Edelweiss Tokio Life Saral Pension

Edelweiss Tokio Life Saral Pension is a non-linked, non-participating, individual immediate annuity plan that provides guaranteed regular income for life. It allows annuity to begin from age 40 and offers the option to return 100% of the purchase price to nominees, ensuring lifelong financial security and legacy protection. The plan provides flexibility to receive annuity monthly, quarterly, half-yearly, or yearly and includes policy-loan and critical-illness surrender benefits.

Key Features of Saral Pension

Sample Illustration - Saral Pension (Monthly Payout)

For an annuitant aged 50 years with a purchase price of ₹5,00,000 (excluding taxes), and for the joint-life option, a secondary annuitant aged 48 years:

Note: Figures are indicative and may vary depending on age, gender, purchase price, and annuity option, as per prevailing Edelweiss Tokio Life rates and IRDAI guidelines.

Edelweiss Tokio Life Immediate Annuity Plan

Edelweiss Tokio Life Immediate Annuity Plan is an individual, non-linked, non-participating, pure-risk premium general annuity product that provides guaranteed lifelong income starting immediately after purchase. You pay a single premium and begin receiving annuity payouts right away, ensuring a stable post-retirement income. The plan offers multiple annuity options, flexible payout frequencies, and additional annuity benefits for higher purchase amounts.

Key Features of an Immediate Annuity Plan

Sample Illustration - Immediate Annuity Plan (Monthly Payout)

The Edelweiss Tokio Life Immediate Annuity Plan rewards higher premium contributions by offering incremental annuity benefits. The table below illustrates how the monthly payout increases based on the purchase price slab, with additional annuity benefits added to the base rate for larger investments.

*An additional 3% of the base annuity amount is payable if the plan is purchased upon death or vesting of a pension policy from Edelweiss Tokio Life Insurance Company Limited.
*Actual payouts vary by age, annuity option, and mode of payment selected.

Edelweiss Life Insurance Forever Pension

Edelweiss Life Forever Pension is a single premium, non-linked, non-participating annuity plan designed to provide lifelong guaranteed income and financial independence during retirement. With a minimum purchase price of ₹2,00,000 and flexible payout options such as monthly, quarterly, half-yearly, or yearly, it ensures a steady flow of income. The plan also offers the option to convert annuity payouts into paid-up additions, giving you greater control, flexibility, and long-term stability for a comfortable and worry-free retirement.

Key Features of Edelweiss Life Forever Pension

Sample Illustration - Edelweiss Life Forever Pension (Monthly Payout)

Below is the indicative annuity illustration for an annuitant aged 50 years with a purchase price of ₹5,00,000 (exclusive of taxes). For Joint Life, the secondary annuitant’s age is assumed to be 48 years. The deferment period for the Deferred Annuity is assumed to be 5 years:

Note: This illustration is for reference only. Actual annuity rates may vary based on prevailing terms, annuitant’s age, and chosen options. The product is also available for sale through online mode.

Edelweiss Life Active Pension Plus

Edelweiss Life Active Pension Plus is a deferred annuity plan that provides guaranteed lifelong income and flexibility for retirement planning. It offers single or joint life cover with options such as Return of Purchase Price on Death. The plan allows premium payments for 5 to 10 years and deferment periods of up to 30 years, starting from a minimum entry age of 35 years. With a minimum monthly annuity of ₹1,000 and purchase options from ₹1,00,000, it ensures steady income and long-term financial security.

Key Features of an Edelweiss Life Active Pension Plus

Sample Illustration – Edelweiss Life Active Pension Plus

The illustration below demonstrates the estimated monthly annuity for a male annuitant aged 55 years, paying an annual premium of ₹1,00,000 for 5 years, with a 10-year deferment period:

*The above illustration is for demonstration purposes only. Actual annuity payouts will depend on prevailing annuity rates, age, premium amount, deferment period, and other policy terms at the time of purchase.

*Taxes and levies, as applicable, will be charged in addition to the premium.

Key Takeaways

Edelweiss Life annuity plans offer guaranteed lifelong income through immediate and deferred options, with a minimum of ₹1,000 per month across plans. Customers can choose single or joint life coverage and flexible payout frequencies. Forever Pension additionally offers the option to convert an annuity into Paid-up Additions. Purchase price limits are subject to Board-approved underwriting. Tax benefits, if any, are as per prevailing laws.